DTC Corporate Tax Panel Suggestion Different From FM Formula

The panel, led by Central Board of Direct Taxation (CBDT) member Akhilesh Ranjan, also recommended a corporate tax rate of 25% for businesses, but with no surcharges or surrender.

Topics
DTC | Nirmal Sitharaman | Sitharaman


Dilasha Seth |
New Delhi

The corporate tax rate structure recommended by the Task Force on Direct Tax Laws was a little different from what was announced by Finance Minister Nirmala Sitharaman last week. The panel, led by Akhilesh Ranjan, a member of the Central Board of Direct Taxes (CBDT), also recommended a 25% corporate tax rate for businesses, but with no surcharges or surrender, sources said.

Sitharaman had announced a rate of 22% for businesses on Friday. Adding the surcharges and the tax, this becomes 25.17% against the current rate of 34.94%. Sources said the panel recommended removing…




MONTHLY STAR

Enterprise Standard Digital


Business Standard Digital Monthly Subscription

Full access to premium product

Convenient – Pay as you go

Pay with Amex/Master/VISA credit cards and VISA debit cards only

Automatic renewal (subject to authorization by your card issuer)

Cancel anytime in the future

Requires personal information

What do you get?

ON THE STANDARD DIGITAL OF COMPANIES

  • Unlimited access to all content on any device via browser or app.

  • Exclusive content, features, opinions and reviews – handpicked by our editors, just for you.

  • Choose 5 of your favorite companies. Receive a daily email with all updates about them.

  • Follow the industry of your choice with a daily newsletter specific to that industry.

  • Keep control of your investments. Follow the prices of the stocks in your portfolio.

  • 18 years of archival data.

REMARK :

  • The product is a monthly auto-renewing product.

  • Cancellation policy: You can cancel anytime in the future without giving a reason, but 48 hours before your card is charged for renewal. We do not offer refunds.

  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for quick action. Requests mailed to any other ID will not be acknowledged or processed.

SMART ANNUAL

Enterprise Standard Digital
Subscribe now and get 12 months free


Business Standard Premium Digital – 12 months + 12 months free

Subscribe for 12 months and get 12 months free.

One-time, transparent registration for Business Standard Digital

Convenient – Payment once a year

Pay using an instrument of your choice – all credit and debit cards, Net Banking, payment wallets and UPI

Exclusive invitation to select Business Standard events

What you get

ON THE STANDARD DIGITAL OF COMPANIES

  • Unlimited access to all content on any device via browser or app.

  • Exclusive content, features, opinions and reviews – handpicked by our editors, just for you.

  • Choose 5 of your favorite companies. Receive a daily email with all updates about them.

  • Follow the industry of your choice with a daily newsletter specific to that industry.

  • Keep control of your investments. Follow the prices of the stocks in your portfolio.

REMARK :

  • The monthly term product is an auto-renewal based product. Once subscribed, subject to your card issuer’s authorization, we will automatically charge your card/payment instrument each month and renew your subscription.

  • In the annual term product, we offer both an auto-renewal based product and a non-auto-renewal based product.

  • We do not refund.

  • No Questions Asked Cancellation Policy.

  • You can cancel future renewals at any time, including immediately after your subscription, but 48 hours before your next renewal date.

  • Subject to the above, cancel yourself by visiting the “Manage My Account” section after logging in OR send an email request to assist@bsmail.in from your registered email address and stating your mobile phone number.


Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

First published: Monday, September 23, 2019. 9:04 PM IST

Luisa D. Fuller

Corporation tax and investment | Institute for Tax Studies

Government will not rely on corporate tax revenue for spending, warns Donohoe – The Irish Times

Corporation Tax Will Rise Again – 3 Ways Limited Company Owners Can Reduce Their Tax Bill

why the latest change means more uncertainty for UK businesses

What is corporation tax? How much and who pays? Liz Truss backtracks on corporate tax inversion mini-budget

Truss U-turn on corporation tax will make recession worse, economists warn